Thar SHE Blows? Gender, Competition, and Bubbles in Experimental Asset Markets
- (pp. 906-20)
(Complimentary)
Abstract
Do women and men behave differently in financial asset markets? Our results from an asset market experiment show a marked gender difference in producing speculative price bubbles. Mixed markets show intermediate values, and a meta-analysis of 35 markets from different studies confirms the inverse relationship between the magnitude of price bubbles and the frequency of female traders in the market. Women's price forecasts also are significantly lower, even in the first period. Implications for financial markets and experimental methodology are discussed. (JEL D14, D81, G01, G11, J16)Citation
Eckel, Catherine C., and Sascha C. Füllbrunn. 2015. "Thar SHE Blows? Gender, Competition, and Bubbles in Experimental Asset Markets." American Economic Review, 105 (2): 906-20. DOI: 10.1257/aer.20130683Additional Materials
JEL Classification
- D14 Household Saving; Personal Finance
- D81 Criteria for Decision-Making under Risk and Uncertainty
- G01 Financial Crises
- G11 Portfolio Choice; Investment Decisions
- J16 Economics of Gender; Non-labor Discrimination